Sunday, October 11, 2009

Trulia: Homesellers in US Reduce Asking Prices by $28.4 Billion

This blog has recently looked at properties with price reductions.  It's a nationwide trend, however.

Trulia, the RE website that has a "price reduced" widget in the left-hand menu, calculated the $28.4 Billion in price cuts this way:

[Using] data from brokers and agents, third-party providers and multiple-listing services. For the survey, it looked at homes for sale as of Oct. 1 -- about 3 million properties, excluding foreclosed homes and undeveloped land -- and calculated how many had previously been listed for a higher price. Some were lowered more than once.

Pete Flint, CEO of Trulia, noted, There’s a “significant inventory” of homes for sale. “You’re still going to see further price declines before the market stabilizes in 2010.”

(bolding BB)

Read the Reuters article here.

Some Price Reduced Posts:

Price Reduced.  Again.  And Again.  And Again....  Additional properties were added in Comments.

1463 Monterey, Charlottesville VA

935 Monticello Avenue, Belmont, Charlottesville VA

1320 Kenwood Lane, Greenbrier, Charlottesville VA

1503 Oxford Road, Rose Hill, Charlottesville VA

2930 Milton Village Lane, Milton Village, VA

Q3 Dismal Sales, Falling Prices - Graph


Anonymous said...

I have a couple of questions about townhome/condo and houses with HOA.
Where are the monthly dues listed?
Why not include the dues in the MLS listing?
It would make searching for these properties much easier with that information.


Real C'ville - The Bubble Blog said...

Good suggestion. Knowing all fees, closing closts, taxes, percentage of income that should be devoted to upkeep, mortgage insurance where applicable, property insurance, plus how much of monthly mortgage payment goes toward princ. and how much to interest, all of this would make for well-informed buyers.